Piraeus Bank, pursuant to its environmental policy, undertook the implementation of a project for the protection of Lake Stymfalia, with the co-funding of the European Union. The general aim of the project LIFE-Stymfalia is the restoration of Lake and its long-term protection and management, through a systematic re-financing process, which will be ensured by the utilization of the reeds’ biomass. The project’s duration is 4 years. The partners of the project are the Piraeus Bank Group Cultural Foundation (PIOP), the Municipality of Sikyonion, OIKOM Environmental Studies Ltd., the Society for the Protection of Prespa and the Centre for Renewable Energy Sources and Saving (CRES). This innovative project is expected to provide solutions to the problem of financing Natura 2000 areas.
Climate change resulting from human activity is one of the greatest challenges of our time and has already had significant adverse effects on the natural and socioeconomic environment. Greek sectors of the economy can be affected both positively and negatively by this climate change. This might be the result of either the change in the institutional framework, the change in climate conditions, or the change in consumers’ attitudes – now opting for products and services with a reduced carbon footprint.
Since 2010, Piraeus Bank has been implementing the 3-year European climabiz project, in collaboration with WWF Hellas and Face3ts. The project is co-financed by the European Union and more specifically by the funding instrument “LIFE+ Environmental Policy and Governance” and it aims to prepare the market for its timely adjustment to the new conditions and to take advantage of the opportunities arising from climate change.
The driving force for the implementation of the Bank's environmental policy was the project GREENbanking4Life. With this 3-year project the Bank succeeded to improve its environmental performance and to effectively disseminate the acquired know-how to the interested parties. The project aimed at reducing the environmental impact of Piraeus Bank, arising from its operation and from its business activity, and also to transfer know-how to other companies or subsidiaries and the general public. The project was carried out by Piraeus Bank, the beneficiary, in cooperation with the Ecological Recycling Society (ERS), the partner.